The $201 million Carter Federal Credit Union in Springhill, La., is increasing opportunities to access financial education and financial counseling services through its Collaborative Financial Education Pilot Program that combines education with entertainment for financial education programs.
CFCU developed a member volunteer training program and partnered with a local studio that produced a series of financial literacy video trailers featured before movie showings in a local theater.
The credit union also provided interactive workshops around Biz Kid$ financial education programming. Biz Kid$ is the Emmy Award winning and credit union funded public television series that teaches kids about money management and entrepreneurship.
“This program is one the ways Carter Federal Credit Union is responding to the increasing need for financial literacy within our membership and in the communities we serve,” said James Gibson, president/CEO of CFCU.
CFCU’s program was launched this year with a grant from the NCUF to help increase CFCU’s capacity for delivering financial education programming and expand opportunities to access financial literacy training and financial counseling in low-wealth and underserved populations in Northwest Louisiana and South Arkansas.
Two CFCU member businesses, Fairfield Studios and the Spring Theatre LLC, have partnered with the credit union to develop and implement the project by contributing services, products and funding.
CFCU’s included three initiatives designed to deliver financial education and literacy training to target populations by increasing both the number of trainers available, and the number of venues available, specifically venues beyond traditional classroom settings.
CFCU’s member volunteer training program added skills and human resource assets to the credit union. During the pilot phase, 10 member volunteers were trained and certified by the credit union to deliver financial education workshops and presentations in communities served by CFCU and its community.
The group included credit union members and employees that served a vital role between the public and the credit union. More than 5,000 people in the community have received financial education training because of this initiative.
The credit union’s partnership with Fairfield Studios created a series of educational video trailers that were shown in the Springhill Theatre. Filmed in communities served by CFCU, the videos combined familiar surroundings, as well as social and cultural elements with financial literacy topics to capture interest among moviegoers.
CFCU also worked with the Spring Theatre LLC, to develop a financial education program that added an educational component to its summer Kids Camp Movie Program and Senior Citizens Night. This initiative helped increase the financial literacy of up to 2,818 students between the ages of 5 and 18 years and up to 3,000 senior citizens, the credit union said.